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Reconsider 70% Forex Windfall Tax – Stakeholders Tell FG
Opposition to the imposition of a 70 per cent foreign exchange windfall tax on commercial banks rose yesterday with stakeholders asking the federal government to reconsider the tax. They asked President Bola…
Naira to recover to N1500 in September as rate hike boosts hot money – Rewane
… Rice price could drop to N70,000 by September The naira will recover from N1,700 to N1,500 in September, as the 50-basis point hike in interest rate is expected to boost Foreign Portfolio Investment…
Eni gets NUPRC’s approval to finalise sale of Agip to Oando
Eni says it has received regulatory approval from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) for the sale of Nigerian Agip Oil Company Limited (NAOC Ltd) to Oando Plc. In a statement on…
Dangote, NNPC Spat: Shareholders Condemn Demarketing of Dangote Refinery
Shareholders have strongly defended Africa's foremost industrialist, Aliko Dangote over the on-going petroleum product…
Nigeria’s forex utilization for foreign education falls by 83%
Nigerians spent $38.17 million on foreign education expenses between January and March 2024. This is according to data from the quarterly statistical bulletin of the Central Bank of Nigeria (CBN) for the first…
FCMB Takes Aim at Gender Disparity in Business with Zero-Interest Loans
First City Monument Bank (FCMB) is addressing gender inequality in Nigeria's business sector with its SheVentures…
Netflix increases subscription price by 40% in Nigeria
Video streaming platform, Netflix, has once again increased its subscription prices in Nigeria with its Premium Plan going up by 40% to 7,000 from N5,000 per month. The latest price increment makes it the second price…
Dormant accounts are more susceptible to fraud, CBN wants to safekeep the funds- Cardoso
The Governor of the Central Bank of Nigeria (CBN), Mr. Yemi Cardoso has stated that dormant accounts in Nigeria are more susceptible to fraudsters in Nigeria and the reason for the Central Bank of Nigeria (CBN)…
BVN enrollments reach 62.7 million in July 2024 – NIBSS
Enrollments for the Bank Verification Number (BVN) by bank account owners in the country increased to 62.7 million this July. This was revealed by the Nigeria Inter-Bank Settlement System (NIBSS) in its…
Dangote-regulator rift threatens jobs, investments
…Creates bad waves for Nigeria globally- Adesina Imagine interviewing in a company, and you get to know at the last stage of the interview that current employees of the company are unhappy, citing unpaid…
Support for Dangote Refinery Swells, Kyari Denies Owning Blending Plant in Malta
Some prominent Nigerians yesterday added their voices to the groundswell of support for President of…
Amid Attacks In Nigeria, Gabon Invites Dangote ‘To Explore’ Business Opportunities
President Brice Oligui Nguema of Gabon has invited Africa’s wealthiest man, Aliko Dangote, to invest in his country. According to Dangote Industries Limited, the billionaire was asked to explore investment…
President Nguema of Gabon invites Dangote to invest in Cement, Fertilser production in country
President Brice Oligui Nguema of Gabon has invited the President and Chief Executive Officer of Dangote…
Senate passes bill seeking to tax banks on forex gains
The senate has passed a bill seeking to impose a one-time windfall tax on banks for foreign exchange (forex) gains. The bill was passed by the upper legislative chamber on Tuesday after Sani Musa, chair of the finance…
Refinery: FG should back Dangote the way other nations support their own industrialists – Femi…
Nigerian billionaire, Femi Otedola, has called for support for Aliko Dangote, the CEO of Dangote Refinery, amid the ongoing disputes with national oil regulators. In a series of X posts (formerly Twitter) on Tuesday,…
BREAKING: Reps call for suspension of NMDPRA CEO
The House of Representatives has called for the suspension of the Chief Executive of the Nigerian Midstream and Downstream Petroleum Authority (NMDPRA) pending conclusive investigations into the allegations…
Crude Oil Supply Crisis: Why Federal Government must protect Dangote Refinery — NACCIMA
The Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture (NACCIMA) has outlined key reasons for the federal government to safeguard local industries, such as the Dangote Refinery, amid…
BREAKING: CBN raises interest rate by 50 basis points to 26.75%
The Central Bank of Nigeria (CBN) monetary policy committee has raised interest rate by 50 basis points from 26.25% to 26.75%. The Governor of the CBN, Mr. Olayemi Cardoso announced this at the end of the apex…
Monopoly allegations: Build refineries in Nigeria to compete with Dangote – Akinwunmi Adeshina slams…
President of the African Development Bank, Akinwumi Adesina, has challenged those accusing Aliko Dangote of trying to monopolize the oil…
Recapitalization: Banks to spend N186 billion on IT infrastructure from offer proceeds
Three major Nigerian banks GTCO, Access Holdings, and Fidelity Bank—are set to allocate a total of N186 billion ($244 million) from their recent public offerings to bolster their IT infrastructure. This move is…
Dormant Bank Accounts: Stakeholders Frown At FG’s Appetite For ‘Free Money’
Stakeholders have frowned at the appetite of the federal government to always look for ‘free money’ to take over,…
Forex inflow via IMTOs hits $1.07bn in three months – CBN
Foreign exchange inflows from International Money Transfer Operators increased by 38.86 per cent to $1.07bn in the first quarter of 2024, from $770.23m recorded in the same period in the previous year.…
Chapel Hill Denham named Nigeria’s best investment bank
Chapel Hill Denham has been named the Best Investment Bank in Nigeria at the 2024 Euromoney Awards for Excellence held in London, United Kingdom on Saturday. In a statement, the firm said this was its…
Fuel crisis: Marketers project N700bn monthly subsidy
•NNPC mum as dealers insist government still paying subsidy, Reps probe crude shortage •Dangote eyes foreign markets for refinery products, FG meets Kyari, Dangote over dispute With a landing cost of N1,117…